Foresight Bank Mortgage Rates, Fees & Info
Plainview, MNLEI: 549300URHBBJ2KIQ3616
Tax ID: 46-1257779
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Mortgage Data
Review & Overview
Foresight Bank is a smaller bank specializing in Home Purchase loans. Foresight Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Winona, Red Wing, Austin, and Minneapolis among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Foresight Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
132Origination Dollar Volume (All Markets)
$39,880,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| ROCHESTER, MN (FHA|USDA|VA) | 106 | $29,360,000 | $276,981 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 9 | $7,005,000 | $778,333 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 7 | $865,000 | $123,571 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $310,000 | $155,000 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 132 | $39,880,000 | $302,121 | $0 | 0.00% |
For 2024, Foresight Bank's most frequently originated type of loan was Conventional, with 132 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 101 | $33,605,000 | $332,723 | $0 | 0.00% |
| Refi | 25 | $5,455,000 | $218,200 | $0 | 0.00% |
| Home Improvement | 6 | $820,000 | $136,667 | $0 | 0.00% |
For 2024, Foresight Bank's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 132 | $39,880,000 | $302,121 | $0 | 0.00% |
For 2024, Foresight Bank's most frequently cited loan duration was Other, with 132 originations.
Loan Sizing
2024 saw Foresight Bank place emphasis on $200k-400k loans with 56 originations, totaling $15,730,000 in origination value.
Applicant Income
Foresight Bank lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 132 | $39,880,000 | $302,121 | $0 | 0.00% |
Foresight Bank lent most frequently to those with DTI ratios of Exempt%, with 132 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.08%
Foresight Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.64%
Foresight Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 132 | $39,880,000 | $302,121 |